Last checked at 9 Jul 2009 12:39
Ceres Power Holdings PLC (the 'Company')
Grant of Share Options
The Company announces that on 1 July 2009, Executive Directors of the
Company were granted 'par value' share options under the Company's CHP Project Bonus Plan (the "Plan"), as approved by shareholders at the Company's Annual General Meeting held on 5th December 2008. These options have been awarded as part of the bonus payment for the successful completion of the Alpha phase of the CHP Project. Under the Plan, half of the bonus payment is payable immediately in cash and the other half is payable as par value options.
Peter Bance, Chief Executive Officer and Rex Vevers, Finance Director were awarded options to subscribe for a total of 38,048 and 23,518 ordinary shares of £0.05 in the Company respectively at an exercise price of £0.05 per share. These options can be exercised by the Executive Director at any time after the end of the Company's financial year ending on 30 June 2012.
For further information contact:
| Ceres Power Holdings plc | Tel. +44 (0)1293 400 404 |
| Peter Bance, Chief Executive | |
| Rex Vevers, Finance Director |
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| Morgan Stanley | Tel. +44 (0)20 7677 5044 |
| Alisdair Gayne/Alastair Walmsley | |
| Gavin Anderson & Company | Tel. +44 (0)20 7554 1400 |
| Robert Speed/Ken Cronin/Deborah Walter |